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Kenya's interest rates are at 6% and have attracted foreign investors over the years. Recently, to stem the rise in inflation, the US increased its
Kenya's interest rates are at 6% and have attracted foreign investors over the years. Recently, to stem the rise in inflation, the US increased its interest rate to 6%. Since the US remains the country with the safest monetary system, most investors dump Kenya's local currency for the US dollar causing a deficit in Kenya's current budget. The withdrawal of money and conversion of the local currency to dollars by investors is also known as__________
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